Method for aggregating intellectual property and services in an exchange

ABSTRACT

The present invention relates to methods of aggregating and valuing intellectual property in a financial exchange. The present invention provides means whereby holders of intellectual property rights may sell, or license intellectual property to an aggregator and receive shares of stock or cash for the contribution based on the aggregated value of the intellectual property held by the aggregator.

CROSS REFERENCE TO RELATED APPLICATION

This application is a continuation-in-part of U.S. patent applicationSer. No. 12/128,232, filed May 28, 2008.

THE FIELD OF THE INVENTION

The present invention relates to methods for creating a type of serviceexchange that can stand alone or be integrated into an exchange thattrades in intellectual property rights from a pool of intellectualproperty rights. Service providers may aggregate their services in theservice exchange and thereby make the services available to intellectualproperty owners. Intellectual property owners pay a fee to the serviceexchange for services received and service providers may receive adistribution of the aggregated value of the service exchange. Thepresent invention further relates to methods for creating a type offinancial exchange that trades in intellectual property rights from apool of intellectual property rights and in equity interest in theexchange wherein the value of each intellectual property right is basedon an aggregated value of the pooled intellectual property and the valueof an equity interest has a value based at least in part on theaggregated value.

BACKGROUND OF THE INVENTION

The role of intellectual property in the global economy has grownsignificantly over the past decades. For many of America's mostprominent companies intellectual property value represents more than 70%of the market value of the individual companies. In spite of theeconomic importance of intellectual property, a true intellectualproperty-based economy has yet to develop. One factor that has stymiedthe development of such an economy is the contextual value of theintellectual property. The value of a given intellectual property rightwill vary as a function of the value perceived by the acquirer of theintellectual property right. For example, in a given transaction type,the value of intellectual property transferred will change as the needsand intended use of the acquirer change. The value of the intellectualproperty transferred may also change as profit margins achievablethrough the application of the intellectual property change.

While many attempts have been made to create generic processes forintellectual property transactions none of these attempts answers thecontextual value problem. For example, companies have been formed thatacquire the intellectual property rights from individual intellectualproperty rights holders. These companies then license or sell bundles ofintellectual property rights to licensees or purchasers. Typically theoriginal intellectual property right holder enters into such atransaction because of a financial need and the value paid to theoriginal intellectual property right holder tends to be minimized. Onereason for such a minimization is that the original intellectualproperty right holder does not have a wide range of access to theintellectual property market. This limited access results in a limitednumber of buyers for the intellectual property right. Therefore, with alimited number of buyers the intellectual property right never realizesits full and true market value in such a transaction. On the other hand,the company acquiring such individual intellectual property rightstypically has a wide range of access to the markets. And so for thecompany, the value of the intellectual property right tends to bemaximized. This wide discrepancy in values for a single intellectualproperty is due to the different context in which the intellectualproperty right was transferred.

One consequence of such discrepancies in value is a minimization ofincentives to innovate. Smaller companies and independent innovators mayfind it difficult to balance innovation costs against the value ofintellectual property if their market access is constrained.

Therefore, what is needed is a process for transacting intellectualproperty rights which seeks to maximize the incentives for innovationand which also mitigates the wide range and differences in economicvaluation for a single intellectual property right.

What is also needed is a method for aggregating intellectual propertyrights from a plurality of intellectual property rights holders andproviding a value to the intellectual property rights holders that isbased on the aggregate value.

What is further needed is a method for valuing intellectual propertythat mitigates the wide range in economic valuation for intellectualproperty realized using present methods and adds value to theintellectual property.

Smaller companies and independent innovators may also find it difficultto obtain certain services such as advice from experts in marketing,investing, accounting, manufacturing and technology, because of the costof obtaining such services. If innovators, in general, have access tosuch services, the value of their innovation may be increased becauseobtaining the services may allow them to better manage their innovation.It would therefore be advantageous to provide in a method foraggregating intellectual property rights from a plurality ofintellectual property rights holders a further method for providingservices in order to add value to the aggregated intellectual propertyvalue. Thus, what is also needed is a method for providing services toinnovators which will enhance the value of the innovators' intellectualproperty and will accordingly add value to an aggregated intellectualproperty value.

SUMMARY OF THE INVENTION

The present invention provides a computer implemented method whichpromotes open source collaboration and seeks to maximize innovationwhile minimizing differences in economic value caused by the context inwhich an intellectual property right is transferred. The presentinvention provides a process by which services may be provided toinnovators as one means to enhance the value of innovation.

In one embodiment the method of the present invention provides the meansfor operating an exchange based on rights in intellectual property,which further includes the provision of services to innovators whoparticipate in the exchange. In the method of the present invention anexchange is created by an aggregator of intellectual property rightsthat obtains rights in intellectual property from a plurality ofintellectual property rights holders. The aggregator obtains suchintellectual property rights either through a license or an acquisitionfrom the original intellectual property rights holders. The rights tothe aggregated intellectual property are then vested in the exchange.The value of the intellectual property rights is not determined only ona per right basis but rather the aggregated intellectual property rightsare valued. Furthermore, the aggregator provides services through theexchange to intellectual property rights holders as a means to increasethe value of the intellectual property and, thus, the value of theaggregated intellectual property rights. In one embodiment the presentinvention provides a method of combining an estimate of the value of theintellectual property rights, which estimated value includes value addedthrough the provision of services by the exchange, with an assessment ofthe impact of the intellectual property rights held by the exchange onthe aggregated value of the intellectual property.

In some embodiments, the present invention provides a method forcreating a publicly traded security in an intellectual propertyaggregator that operates an intellectual property exchange, the methodcomprising:

-   -   transferring-in a plurality of intellectual property rights from        a plurality of intellectual property rights holders to the        intellectual property aggregator;    -   providing a service to at least one of the plurality of        intellectual property rights holders, wherein the providing of        the service adds value to at least one of the plurality of        transferred intellectual property rights;    -   calculating an aggregated intellectual property value for the        plurality of transferred intellectual property rights;    -   estimating an exchange intellectual property value for each of        the plurality of intellectual property rights, the exchange        intellectual property value being estimated by apportioning the        aggregated intellectual property value among each of the        plurality of intellectual property rights;    -   transferring-out a portion of the plurality of intellectual        property rights to one or more acquirers of intellectual        property rights;    -   receiving from each acquirer of intellectual property rights a        payment, the payment equal to the exchange intellectual property        value for each of the intellectual property rights transferred        out to each acquirer;    -   calculating an updated aggregated intellectual property value to        account for each payment received; and    -   issuing a plurality of security interests, each security        interest being purchasable for a price, the price being        representative of the updated aggregated intellectual property        value.

In some embodiments, the present invention provides a method foroperating an exchange based on rights in intellectual propertyimplemented by a computer based system, comprising the steps of:

-   -   aggregating a plurality of intellectual property rights from a        plurality of intellectual property rights holders in an        intellectual property aggregator by transferring in a first        transfer the intellectual property rights to the intellectual        property aggregator;    -   providing a service to at least one of the plurality of        intellectual property rights holders, wherein the providing of        the service adds value to at least one of the plurality of        transferred intellectual property rights;    -   storing in a first database a first set of information        describing each of the plurality of intellectual property rights        holders;    -   storing in a second database a second set of information        describing each of the plurality of intellectual property        rights, the second set of information comprising an intellectual        property value for each of the plurality of intellectual        property rights including value added by the providing of the        service;    -   storing on a third database a third set information describing a        plurality of acquirers of a portion of the plurality        intellectual property rights, the third set of information        comprising payment information for each acquirer for each        payment made to the intellectual property aggregator for a        second transfer of the intellectual property rights to the        acquirer;    -   storing on a fourth database a fourth set of information        describing a plurality of investors, each investor being a        purchaser of a equity interest in the intellectual property        aggregator, the fourth set of information comprising investor        information for each investor for investments made to the        intellectual property aggregator;    -   inputting into a valuation module information selected from the        group consisting of: the first set of information, the second        set of information, the third set of information and the fourth        set of information;    -   calculating a value of the aggregated intellectual property        rights in the valuation module to account for the information;    -   determining an exchange intellectual property value for each of        the plurality of intellectual property rights, the exchange        intellectual property value being estimated by apportioning the        aggregated intellectual property value among each of the        plurality of intellectual property rights; and    -   calculating an updated aggregated intellectual property value to        account for each payment received;    -   entering a payment value in the third database for each payment        received for the transfer of an intellectual property right;    -   wherein the payment received for a intellectual property right        equals the exchange intellectual property value for the        intellectual property right.

BRIEF DESCRIPTION OF DRAWINGS AND FIGURES

FIG. 1 is a process flow diagram illustrating an embodiment of themethod of the intellectual property exchange of the present invention;

FIG. 2 is a process flow diagram illustrating an embodiment of thecomputer-implemented method of the intellectual property exchange of thepresent invention;

FIG. 3 is a process flow diagram illustrating an alternate embodiment ofthe method of the intellectual property exchange shown in FIG. 1,wherein the transferred intellectual property rights require additionalresearch and development prior to being acceptable for transfer to theacquirer; and

FIG. 4 is a process flow diagram illustrating an alternate embodiment ofthe method of the intellectual property exchange shown in FIG. 1,wherein the IP Aggregator identifies additional markets for existingintellectual property rights.

FIG. 5 is a process flow diagram illustrating an embodiment of thecomputer-implemented method of the service exchange of the presentinvention.

DETAILED DESCRIPTION OF THE INVENTION

In the method of the present invention an exchange is created by anaggregator of intellectual property that obtains rights in intellectualproperty from a plurality of intellectual property rights holders. Theaggregator obtains such intellectual property rights either through alicense or an acquisition from the original intellectual property rightsholders.

An Exchange 1 according to the present invention is illustrated inFIG. 1. The Exchange 1 comprises an IP Owner 10, an IP Aggregator 20,Acquirer 30, Other Licensee/Buyer 40, Investors 50, Investment Research60 and Technical Expertise 70. In one embodiment, the IP Aggregator 20can be a corporation. In another embodiment, the IP Aggregator 20 can bea joint venture among investors. In yet another embodiment the IPAggregator 20 may be a limited liability company or other legal entitysuch as a partnership. The Exchange 1 provides means for determining thevalue of an intellectual property right and transferring rights in theintellectual property from an intellectual property right holder,aggregating the transferred intellectual property rights in a centralfacility and further transferring portions of the aggregatedintellectual property rights. Each of these elements of the Exchange 1is described in further detail below. As used herein, the term IP Owner10 includes other intellectual property rights holders generally such aslicensees who have the necessary rights in and to the intellectualproperty to enter into transactions based on the intellectual property.

In the Exchange 1, an IP Owner 10 transfers rights in an intellectualproperty to an IP Aggregator 20 as illustrated by flow path “a.” IPOwner 10 may be a single owner of an intellectual property right or IPOwner 10 may be a plurality of owners of a plurality of intellectualproperty rights. The transfer of rights in an intellectual property maybe by a license agreement between the IP Owner 10 and the IP Aggregator20 or the transfer of rights may be by a sale of the rights to the IPAggregator 20 from the IP Owner 10. Thus, flow path “a” of FIG. 1represents the sale or license of an intellectual property right from anIP Owner 10 to an IP Aggregator 20. Flow path “a” is hereinafterreferred to as “Sale/License ‘a’.” The license of intellectual propertyfrom an IP Owner 10 to an IP Aggregator 20 may be either an exclusivelicense or a non-exclusive license. In one embodiment, IP Aggregator 20may be a plurality of IP Aggregator 20 wherein each IP Aggregator 20obtains rights to intellectual property in different technologycategories or classes. The IP Aggregator 20 is the owner of theintellectual property rights pool, the intellectual property rights poolcomprising the intellectual property rights acquired by the IPAggregator 20 from the IP Owner 10.

In yet another embodiment, each of the plurality of IP Aggregator 20 mayhave different investment objectives. The different investmentobjectives may include, for example, aggregation of a family ofintellectual property rights focused on a single technology ortechnology area; aggregation of a family of intellectual property rightsfocused on a specific industry; aggregation of intellectual propertyrights that require further research and development effort to make theintellectual property rights viable for commercialization; oraggregation of intellectual property rights from a plurality ofdisciplines or technologies which when combined may create new productsand/or processes.

The consideration for Sale/License “a” can include any of the well-knownforms of consideration used in the sale or license of intellectualproperty. The IP Owner 10 may elect to receive a payment, a share orshares of stock or other equity interest in the IP Aggregator 20, orsome combination of payment and shares as consideration for the licenseor sale of the intellectual property rights to the IP Aggregator 20. Thepayment may be a royalty payment or a lump-sum payment. The payment ofconsideration for Sale/License “a” is illustrated by flow path “b” ofFIG. 1. Flow path “b” is hereinafter referred to as “Out-Payment ‘b’.”

The intellectual property and associated intellectual property rights ofthe present invention include patents, copyrights, trade secrets,know-how and confidential information. Intellectual property rights inpatents, copyright and trade secrets arise under statutes enacted by thegovernmental body having authority over such rights. In the UnitedStates, patent rights arise under 35 U.S.C. §1 et seq. Similarly, incountries other than the United States, patent rights arise under thenational laws of that country. Copyright also arises under the nationallaws of countries providing copyright protection. Trade secret rights inthe United States arise under statutes enacted by the individual Statesor under the common law of States which have not enacted statutesprotecting trade secret rights. In countries other than the UnitedStates, trade secret rights typically arise under the national laws ofthat country. Know-how and confidential information if not legallydefinable as trade secrets may be intellectual property rights definedand protected under contract. Accordingly, intellectual property and theassociated intellectual property rights as the terms are used withrespect to the present invention are as described hereinabove.

Out-Payment “b” is based on a valuation of the intellectual propertyright transferred in Sale/License “a.” The value assigned to Out-Payment“b” is determined from a determination of the value of the intellectualproperty right itself (“IPV”) and the value of the aggregatedintellectual property rights (“AIPV”). After initialization of theExchange 1, the value assigned to Out-Payment “b” is the exchangeintellectual property right value (“EIPV”). The IPV may be determinedusing any of the well-known methods for valuing intellectual propertyrights. These well-known valuation methods include the “cost approach,”the “market approach” and the “income approach.”

Initialization of the Exchange 1 occurs with the first acquisition ofintellectual property rights by the IP Aggregator 20 from the IP Owner10. Upon initialization, AIPV equals IPV for the first acquiredintellectual property rights minus the Out-Payment “b” made by the IPAggregator 20 to the IP Owner 10. In the initialization of the Exchange1, the intellectual property rights may include a single intellectualproperty right or a plurality of intellectual property rights.

In the “cost approach,” the value of the intellectual property is setequal to the cost to reproduce or replace the intellectual property. Thecost to reproduce the intellectual property is the cost to reproduce theexact same property being valued. The reproduction cost estimate maytherefore include cost components which are estimates of research anddevelopment costs, estimates of costs to test and refine theintellectual property and costs to make an embodiment of theintellectual property available for commercialization. The replacementcost is an estimate of the cost to produce intellectual property havingsimilar utility to the intellectual property being valued. Thereplacement cost may therefore also include cost components which areestimates of research and development costs, estimates of costs to testand refine the intellectual property and costs to make an embodiment ofthe intellectual property available for commercialization. Typically,under the “cost approach” the valuation measures costs as of the date ofvaluation and does not rely on historical cost information.

In the “market approach” the value estimate is based on the cost ofsimilar intellectual property. The “market approach” requires theexistence of a market for comparable intellectual property and knowledgeof the terms of the sale or license of the comparable intellectualproperty.

In the “income approach” the present discounted value of a future incomestream is estimated. The future income stream is typically estimatedbased on a number of factors including benefits of the intellectualproperty to alternative products or processes, the size of the marketinto which commercial sales based on the intellectual property will bemade, manufacturing and/or supply factors relating to thecommercialization, and estimated demand for the commercialized productor process.

The AIPV is estimated as the total value of the intellectual propertyrights held by the IP Aggregator 20. The value of the AIPV is the sum ofthe individual IPV for each intellectual property right held by the IPAggregator 20 plus the value that accrues to the IP Aggregator 20 fromInvestors 50, Acquirer 30 and Other Licensee/Buyer 40.

Investors 50 purchase shares of stock in the IP Aggregator 20illustrated by flow path “g” of FIG. 1 by making cash payments to the IPAggregator 20 illustrated by flow path “h” of FIG. 1. Flow path “h” ishereinafter referred to as “Stock Payment ‘h’.” Flow path “g” ishereinafter referred to as “Stock Purchase ‘g’.”

Licensees or purchasers (individually or collectively) may acquirerights in portions of the aggregated intellectual property from the IPAggregator 20. IP Aggregator 20 transfers rights in an intellectualproperty to Acquirer 30 as illustrated by flow path “c.” Acquirer 30 maybe a single acquirer of an intellectual property right or Acquirer 30may be a plurality of acquirers of a plurality of intellectual propertyrights. The transfer of rights in an intellectual property may be by alicense agreement between the IP Aggregator 20 and the Acquirer 30 orthe transfer of rights may be by a sale of the rights to the Acquirer 30from the IP Aggregator 20. Thus, flow path “c” of FIG. 1 represents thesale or license of an intellectual property right from an IP Aggregator20 to an Acquirer 30. Flow path “c” is hereinafter referred to as“Transfer Out ‘c’.” Consideration for Transfer Out “c” can include anyof the well-known forms of consideration used in the sale or license ofintellectual property. For example, IP Aggregator 20 may elect toreceive a lump-sum payment or a royalty payment for a sale or license ofan intellectual property or some combination of payment types asconsideration for the license or sale of the intellectual propertyrights to an Acquirer 30. The payment of consideration for Transfer Out“c” is illustrated by flow path “d” of FIG. 1. Flow path “d” ishereinafter referred to as “In-Payment ‘d’.” In-Payment “d,” in oneembodiment of the present invention, is a negotiated payment agreed uponby Acquirer 30 and IP Aggregator 20.

Other Licensee/Buyer 40 may acquire rights in portions of the aggregatedintellectual property from the IP Aggregator 20. IP Aggregator 20transfers rights in an intellectual property to the Other Licensee/Buyer40 as illustrated by flow path “e.” Other Licensee/Buyer 40 may be asingle acquirer of an intellectual property right or OtherLicensee/Buyer 40 may be a plurality of acquirers of a plurality ofintellectual property rights. The transfer of rights in an intellectualproperty may be by a license agreement between the IP Aggregator 20 andthe Other Licensee/Buyer 40 or the transfer of rights may be by a saleof the rights to the Other Licensee/Buyer 40 from the IP Aggregator 20.Thus, flow path “e” of FIG. 1 represents the sale or license of anintellectual property right from an IP Aggregator 20 to OtherLicensee/Buyer 40. Flow path “e” is hereinafter referred to as “OtherTransfer Out ‘e’.” Consideration for Other Transfer Out “e” can includeany of the well-known forms of consideration used in the sale or licenseof intellectual property. For example, IP Aggregator 20 may elect toreceive a lump-sum payment or a royalty payment for a sale or license ofan intellectual property some combination of payment types asconsideration for the license or sale of the intellectual propertyrights to the Other Licensee/Buyer 40. The payment of consideration forOther Transfer Out “e” is illustrated by flow path “f” of FIG. 1. Flowpath “f” is hereinafter referred to as “Other In-Payment T.” OtherIn-Payment “f,” in one embodiment of the present invention, is anegotiated payment agreed upon by Other Licensee/Buyer 40 and IPAggregator 20.

In some embodiments of the present invention, the AIPV may berepresented by the following Formula 1:

AIPV=Σ{Σ[IPV]_(i)+Σ[In-Payment “d”] _(i)+Σ[Other In-Payment “f”]_(i)+Σ[Stock Payment “h”] _(i)}−{Σ[Out-Payment “b”] _(i)}.  Formula 1

The Σ[IPV]_(i) represents the sum of all IPV estimated for theintellectual property held by the IP Aggregator 20. For transactionsbetween IP Aggregator 20 and Acquirer 30, there is a cash value thataccumulates with the IP Aggregator 20 from payments made by Acquirer 30and this accumulated cash value is represented by Σ[In-Payment “d”]_(i).Similarly, for transactions between IP Aggregator 20 and OtherLicensee/Buyer 40 there is a cash value that accumulates with the IPAggregator 20 from payments made by Other Licensee/Buyer 40 and thisaccumulated cash value is represented by Σ[Other In-Payment “f”]_(i).Investors 50 who purchase stock in the IP Aggregator 20 pay a purchaseprice for the stock and this cash value also accumulates with the IPAggregator 20. The sum of payments made for stock purchases isrepresented by Σ[Other In-Payment “f”]_(i). The acquisition ofintellectual property rights from IP Owner 10 by the IP Aggregator 20requires some form of payment from the IP Aggregator 20 to the IP Owner10. As noted above, such a payment may be in the form of cash, stock inthe IP Aggregator 20, or a combination of these types of payments. Thesum of all payments made by the IP Aggregator 20 to the IP Owner 10 isrepresented by Σ[Out-Payment “b”]_(i).

In addition to the Σ[Out-Payment “b”]_(i), The IP Aggregator may haveadditional cash outflow which may be appropriate to include in the AIPV.For example, if dividends are paid to holders of stock or other equityinterest in the IP Aggregator 20, it may be appropriate to deduct thesum of dividend payments made from the AIPV. Also, it may be appropriateto deduct certain types of operating expenses, other than Out-Payment“b,” from the AIPV. Formula 1 may be modified to account for suchadditional deductions.

In some embodiments, the AIPV is determined by a manager of the IPAggregator 20. The manager may use any of the now known or laterdeveloped accounting and/or economics methods for valuing intellectualproperty. In the present invention, the AIPV is an estimate of the valueof all intellectual property rights held by the IP Aggregator 20 andincludes in some embodiments the effect of other value measures asdescribed herein.

As the IP Aggregator 20 acquires additional intellectual property rightsfrom IP Owner 10, the AIPV may be updated to account for the newlyacquired IPV, payments made and received by the IP Aggregator 20 andother value measures considered by the manager of the IP Aggregator 20.

The AIPV may be represented by a stock price, the stock price being theprice per share for stock in the IP Aggregator 20, but the total valueof all issued stock will not necessarily equal the AIPV. The stock pricemay be set based on any of the well-known market processes such as anauction process or a negotiation. In one embodiment of the presentinvention, stock in the IP Aggregator 20 may be in the form of one ormore of a well-known security or securities. As used herein, the term“stock” will refer to securities which represent an interest in thecapital, assets, property or profits of the IP Aggregator 20. The typesof securities may include equity securities such as common or preferredshares of stock; debt securities, which include bonds and debentures;and mutual fund investments which enable an investor to pool aninvestment with many other investors. The process of buying and sellingof stock may include public trading of the stock. The buying and sellingof stock may additionally be facilitated by any of the known or to bedeveloped web-based methods for trading stocks also known as electronictrading. Such web-based methods would be accessible to Investors 50 viathe Internet and, for example, the per share value of the stock would beposted on the electronic trading web site and Investors 50 would beprovided the capability to buy shares of the stock over the Internet.

The Exchange 1 of the present invention may additionally make use ofInvestment Research 60 and Technical Expertise 70 as inputs into theExchange 1. Investment Research 60, for example, may include marketresearch for determining the IPV of an intellectual property. InvestmentResearch 60 may also include industry research to identify IP Owner 10,Acquirer 30 or Other Licensee/Buyer 40. Investment Research 60 aids thedetermination of IPV and AIPV in the Exchange 1.

Technical Expertise 70, similarly aids the operation of the Exchange 1.Technical Expertise 70 may also include expertise on setting the valueof stock. Technical Expertise 70 may include economic expertise ondetermining the AIPV. Additionally, Technical Expertise 70 may includeexpertise for using the intellectual property sold or licensed inTransfer Out “c” and/or Other Transfer Out “e.” In one embodiment of thepresent invention, Technical Expertise 70 is a subsidiary company to IPAggregator 20. Employees of Technical Expertise 70 have the requisiteknowledge to make and use the subject matter of the intellectualproperty sold or licensed in Transfer Out “c” and/or Other Transfer Out“e.” In one embodiment of the present invention, an Acquirer 30 wouldreceive the benefit of Technical Expertise 70 in addition to rights inthe sold or licensed intellectual property. In the same embodiment, orin another embodiment, Other Licensee/Buyer 40 would receive the benefitof Technical Expertise 70 in addition to rights in the sold or licensedintellectual property. The benefit received from Technical Expertise 70can include know-how on how to make and use the subject matter, such asa product or process, of the intellectual property sold or licensed bythe IP Aggregator 20.

In one embodiment, Technical Expertise 70 provides an evaluation of theintellectual property the IP Aggregator 20 has an interest in buying orlicensing and based on the evaluation provides guidance to the IPAggregator 20 on such transactions. The guidance may include directionhow to pair the intellectual property the IP Aggregator 20 has aninterest in buying or licensing with other intellectual property towhich the IP Aggregator 20 has rights or intellectual property to whichthe IP Aggregator 20 should seek to acquire rights. The guidance mayinclude direction on which intellectual property can be combined tocreate a portfolio of intellectual property covering new products orprocesses. The guidance may further include identification of areas ofinnovation that should be developed in order to create new intellectualproperty. Technical Expertise 70 may also function as a facilitator ofcollaborative research and development between the IP Aggregator 20 andIP Owner 10, between two or more IP Owners 10, and between one or moreIP Owners 10 and a third party. The collaborative research anddevelopment may include third-party sponsored research. A third party inthe context of the present invention is a person or entity other than IPAggregator 20 and IP Aggregator 10.

Technical Expertise 70 may influence the AIPV by affecting an increasein In-Payment “d” paid by Acquirer 30 for the benefit of TechnicalExpertise 70 in addition to rights in the sold or licensed intellectualproperty. Similarly, Technical Expertise 70 may cause an increase inOther In-Payment “f” paid by Other Licensee/Buyer 40 for the benefit ofTechnical Expertise 70 in addition to rights in the sold or licensedintellectual property. In some embodiments of the present invention,Technical Expertise 70 may generate know-how on the use or applicationof the sold or licensed intellectual property. In such embodiments,Acquirer 30 or Other Licensee/Buyer 40 may agree to make a higherpayment when the know-how generated by Technical Expertise 70 isincluded in the transfer of rights. Technical Expertise 70 may alsocause an increase in AIPV because of Technical Expertise 70 directedacquisition of intellectual property, combining of intellectual propertyinto a portfolio covering new a product or process, and collaborativeresearch and development where the result of the collaboration is newintellectual property to which the IP Aggregator holds rights.

The EIPV is determined by apportioning the AIPV among the intellectualproperty rights held by the IP Aggregator 20. The apportionment is basedon a consideration of weighted factors, the factors in some embodimentsinclude: scope of exclusivity of the intellectual property rights;estimated period of the exclusivity; proximity of competing intellectualproperty not held by the IP Aggregator 20; extent of trade secrets,know-how and/or confidential information transferred to the IPAggregator 20 from the IP Owner 10; geographic scope of the exclusivity(e.g. extent of foreign intellectual property rights included in theintellectual property rights transferred to the IP Aggregator 20 by theIP Owner 10); relative enforceability of the intellectual propertyrights transferred to the IP Aggregator 20; and extent of commercialopportunities available for license or sale of the intellectual propertyheld by the IP Aggregator to Acquirer 30 and/or Other Licensee/Buyer 40.In one embodiment, the determination of EIPV is illustrated by Formula2.

EIPVi=[AIPV/Σi]×[1+α+β+γ+δ+ε+ζ+η+θ+λ+μ+π+σ+φ+ω]  Formula 2

where,

-   -   α, β, γ, δ, ε, ζ, and η are weighting factors representing:    -   α: scope of exclusivity of the intellectual property rights;    -   β: estimated period of the exclusivity;    -   γ: proximity of competing intellectual property not held by the        IP Aggregator 20;    -   δ: extent of trade secrets, know-how and/or confidential        information transferred to the IP Aggregator 20 from the IP        Owner 10;    -   ε: geographic scope of the exclusivity (e.g. extent of foreign        intellectual property rights included in the intellectual        property rights transferred to the IP Aggregator 20 by the IP        Owner 10);    -   ζ: relative enforceability of the intellectual property rights        transferred to the IP Aggregator 20;    -   η: extent of commercial opportunities available for license or        sale of the intellectual property held by the IP Aggregator to        Acquirer 30 and/or Other Licensee/Buyer 40;    -   θ: estimated effect on value of the number of sub-licenses        granted for the intellectual property rights;    -   λ: need for third-party license(s) in order to utilize the        intellectual property rights and/or whether such third-party        license(s) have been obtained or the probability they can be        obtained;    -   μ: estimated effect on value of bundling the intellectual        property rights with other intellectual property rights;    -   π: whether or not rights to improvements to the intellectual        property rights are included in rights acquired by IP Aggregator        20.    -   σ: whether or not further development of the subject matter of        the intellectual property rights is required prior to        commercialization and/or whether such development is being done        or the probability it can be done;    -   φ: whether or not financing is required in order to further        develop the intellectual property rights prior to        commercialization and/or whether such financing has been        obtained or the probability it can be obtained;    -   ω: whether or not “other services” are required in order to        prepare the intellectual property rights for sub-licensing        and/or whether such “other services” have been obtained or the        probability they can be obtained; and    -   Σi=the number of separately valued intellectual property rights        held by the IP Aggregator 20.

“Other services’ may include providing marketing, investing, accounting,manufacturing, and other advice, and providing tangible work productbased on such advice.

The weighting factors may be positive or negative, such that anyindividual EIPV may be greater than or less than the average AIPV whereAIPV/Σi is the average AIPV. Other weighting factors may be applied inthe determination of EIPV_(i) by, for example, the manager of the IPAggregator 20. The weighting factors may also change over time torepresent a change in weight in any one or more weighting factors dueto, for example, the age of the intellectual property rights, advancesin science, technology or business made relative to the intellectualproperty right being valued, or the acquisition of other intellectualproperty rights by the IP Aggregator 20 which impact the value of theintellectual property right being valued. EIPV_(i) may alternatively bedetermined by now known or later developed accounting and/or economicmethods for determining the value of intellectual property rights. Suchother methods may include consideration of the value placed on similarintellectual property rights in transactions and/or litigation as anestimate of a value the relevant market will bear, a prospective incomeavailable from a defined transaction involving the intellectual propertyrights, or a negotiation with a prospective Acquirer 30 or OtherLicensee/Buyer 40.

Services provided to the intellectual property rights holder, such asadvice from experts in marketing, investing, accounting, manufacturingand technology or the production of tangible work product in suchcategories, may increase the value of the EIPV_(i). If innovators, ingeneral, have access to such services, the value of their innovation maybe increased because obtaining the services may allow them to bettermanage their innovation and to better ready the innovation forcommercialization. Accordingly, incorporating the factors σ, φ, ω intothe estimate for EIPV_(i) provides a means to account for the effect ofthe provision of services on the value of the intellectual propertyrights.

As provided herein above, initialization of the Exchange 1 occurs withthe first acquisition of intellectual property rights by the IPAggregator 20 from the IP Owner 10. Upon initialization, AIPV equals IPVfor the first acquired intellectual property rights minus theOut-Payment “b” made by the IP Aggregator 20 to the IP Owner 10. Theinitialization values for EIPV, AIPV, IPV and Out-Payment “b” arerepresented by formulas 3 and 4.

EIPV₀=Out-Payment “b”₀=IPV₀  Formula 3

AIPV₀=ΣEIPV₀  Formula 4

In Formulae 3 and 4, the subscript 0 indicates the initializationcondition. As provided herein above, in the initialization of theExchange 1 the intellectual property rights may include a singleintellectual property right or a plurality of intellectual propertyrights.

Each EIPV_(i) may be re-calculated when the AIPV is updated. As providedherein above, as the IP Aggregator 20 acquires additional intellectualproperty rights from IP Owner 10, the AIPV may be updated to account forthe newly acquired IPV, payments made and received by the IP Aggregator20 and other value measures considered by the manager of the IPAggregator 20. The AIPV may also be updated to account for any addedvalue created due to Technical Expertise 70. Alternatively, eachEIPV_(i) may be re-calculated at the discretion of the manager of the IPAggregator 20. In the preferred embodiment of the present invention,each EIPV_(i) is re-calculated when the AIPV changes by a significantamount. The significant amount may, for example, be related to apercentage change in the AIPV. In some embodiments of the presentinvention, each EIPV_(i) is re-calculated as market conditions, such asdemand for intellectual property rights by Acquirer 30 or by OtherLicensee/Buyer 40, change.

FIG. 2 illustrates one embodiment of the computer implemented method ofthe Exchange 1 of the present invention, wherein the method is performedon one or more computers or computer systems. The computer implementedmethod illustrated in FIG. 2 uses patents as an exemplary intellectualproperty right. However, the intellectual property right of the methodmay also include copyright, trade secrets, know-how and confidentialinformation solely or in combination. In a database 80, data on IP Owner10 is accumulated and maintained. The data stored in database 80 mayinclude information on each IP Owner 10 such as address, contactinformation for each IP Owner 10, identification of the intellectualproperty of each IP Owner 10, and other information pertinent to atransactional relationship between IP Owner 10 and IP Aggregator 20. Ina database 90, a description of each patent right transferred from IPOwner 10 to IP Aggregator 20 is accumulated and maintained. Eachdescription of a patent in database 90 includes identification of thecorresponding IP Owner 10, title information on the ownership of thepatent, the expiration date of the patent, the existence of counterpartapplications filed in the United States, the existence of foreigncounterpart applications and/or patents, and indicia relating to thescope of the claims, proximity of competing intellectual property andother factors which may from time-to-time be pertinent to valuing thepatent or transactions involving the patent and in some embodiments mayinclude weighting factors as described herein above. Databases 80 and 90are kept and maintained by the IP Aggregator 20 either directly or bycontractual arrangement with a third-party provider of databaseservices. Databases 80 and 90 may be kept and maintained as separatedatabases, or they may comprise different data fields in a singledatabase.

The IP Aggregator 20, by accessing databases 80 and 90 can determinewhich patents to associate with a transfer of rights to an Acquirer 30or Other Licensee/Buyer 40. Data on Acquirer 30 is kept and maintainedin database 130 and such data includes name of Acquirer 30, contactinformation for Acquirer 30, and the patent or patents from database 90associated with Acquirer 30. Database 130 may also include the terms ofthe Transfer Out “c,” and the nature and value of In-Payment “d.”Database 130 may further include information on the interest Acquirer 30has in different fields of technology or business or in certainintellectual property rights. Data on Other Licensee/Buyer 40 is keptand maintained in database 140 and such data includes name of OtherLicensee/Buyer 40, contact information for Other Licensee/Buyer 40, andthe patent or patents from database 90 associated with OtherLicensee/Buyer 40. Database 140 may also include the terms of theTransfer Out “e,” and the nature and value of Other In-Payment “f.”Database 140 may further include information on the interest OtherLicensee/Buyer 40 has in different fields of technology or business orin certain intellectual property rights. Databases 130 and 140 are keptand maintained by the IP Aggregator 20 either directly or by contractualarrangement with a third-party provider of database services. Databases130 and 140 may be kept and maintained as separate databases, or theymay comprise different data fields in a single database. Databases 130and 140 may also comprise different data fields in databases 80 and 90either separately or as part of a single database combining all of thedata of databases 80, 90, 130 and 140.

Database 150 contains data on Investor 50 and such data includes name ofInvestor 50, contact information for Investor 50, number of shares ofstock or other security held by Investor 50 and the value of StockPayment “h.” Database 150 may also include such additional informationrelating to Stock Purchase “g” as required from time-to-time by thesecurities laws of the United States or the legal jurisdiction in whichthe IP Aggregator 20 is operating. Databases 130, 140 and 150 may alsocomprise different data fields in databases 80 and 90 either separatelyor as part of a single database combining all of the data of databases80, 90, 130, 140 and 150. In some embodiments, the information containedwithin databases 80, 90, 130, 140 and 150 are different data sets storedwithin one or more of the computers or computer systems.

A valuation module 100 receives data from databases 80, 90, 130, 140 and150. Included in the data are the value of Other In-Payment “f,” thevalue of In-Payment “d,” and the value of Stock Payment “h.” Withinvaluation module 100, the individual IPV_(i)'s are determined using anyof the methodologies previously described herein. Accordingly, anexternal input 160, comprising a database of information, providesrelevant cost or market data to the valuation module 100. The databaseof external input 160 contains data pertinent to any one or more of thecost approach, market approach, income approach or other intellectualproperty valuation method known to those skilled in the art of valuingintellectual property. By way of example only, the data of externalinput 160 may include the cost components for calculating a reproductionor replacement cost for the patent. The data of external input 160 mayalso, or alternatively, include market data on the cost of comparablepatents. The data of external input 160 may also, or alternatively,include estimates on future income streams and discounted cash flows.

Within valuation module 100 the AIPV is determined, in one embodiment,according to Formula 1. Other methods for calculating AIPV may be knownor developed from time-to-time are within the scope of the presentinvention. For example, the AIPV of the present invention may bedetermined using data different from or in addition to In-Payment “d,”Other In-Payment “f,” Stock Payment “h” and Out-Payment “b.” The AIPV iskept and maintained in a database associated with valuation module 100.As the variables of Formula 1, for example, change from time-to-time theAIPV for IP Aggregator 20 will be updated. Updating the AIPV may be doneon a scheduled basis or as needed. The most recently updated AIPV isreferred to herein as the current AIPV 170.

The current AIPV 170 is an input from the valuation module 100 into theapportionment module 115. The valuation module 100 also counts andstores the number of individual intellectual properties valued in thevaluation module 100 and identified as Σi in Formula 2. The Σi is aninput from the valuation module 100 into the apportionment module 115.Apportionment factors 180, in some embodiments, is a database containingthe weighting factors used to adjust the average AIPV in Formula 2 andother indicia of value used by the manager of IP Aggregator 20. Forpatents on which database 90 includes information on the expiration dateof the patent, the existence of counterpart applications filed in theUnited States, the existence of foreign counterpart applications and/orpatents, and indicia relating to the scope of the claims, proximity ofcompeting intellectual property and other factors which may fromtime-to-time be pertinent to valuing the patent or transactionsinvolving the patent, such data is inputted from database 90 intoapportionment factors 180. Additionally, apportionment factors 180 mayinclude weighting factors not contained in database 90 such as, in theembodiment presented herein, a weighting factor representative of theextent of trade secrets, know-how and/or confidential informationtransferred to the IP Aggregator 20 from IP Owner 10 and a weightingfactor representative of the relative enforceability of the intellectualproperty rights transferred to the IP Aggregator 20.

The weighting factors kept and maintained in apportionment factors 180may be assigned as relative values on an arbitrary scale. For example,ζ, a weighting factor representative of relative enforceability, may beindicated by a value from 0 to 0.1, with 0 representing a patent thathas very limited enforceability and 0.1 representing a patent having thegreatest level of enforceability. Similar arbitrary scales may beestablished for other weighting factors.

The output from the apportionment module 115 are the individual EIPVi'swhich establish Out-payment “b” to each IP Owner 10 that transfers apatent right, by license or sale, to IP Aggregator 20.

FIG. 3 illustrates the method of the present invention in someembodiments wherein Technical Expertise 70 develops Augmented Innovation200 which is aggregated via flow path j′ by the IP Aggregator 20. Inthis example, the IP Aggregator 20 receives a transfer of intellectualproperty rights, either by sale or license, from the IP Owner 10. Thetransferred intellectual property rights require additional research anddevelopment effort before being acceptable for transfer to Acquirer 30.The additional research and development effort may be necessary becausealthough the intellectual property rights transferred to the IPAggregator 20 are suitable for application in one market, they may notbe suitable for application in a market of interest to Acquirer 30.Therefore, Technical Expertise 70 receives information or data on theintellectual property rights transferred to IP Aggregator 20 along flowpath j. Technical Expertise 70 then provides the additional research anddevelopment required to create Augmented Innovation 200. AugmentedInnovation 200 is itself protected by intellectual property rights whichare aggregated with the intellectual property rights acquired by IPAggregator 20 form IP Owner 10 for transfer to Acquirer 30 along theflow path Transfer Out “c.” IP Aggregator receives payment for TransferOut “c” via In-Payment “d,” as described herein above.

FIG. 4 illustrates the method of the present invention in someembodiments wherein Technical Expertise 70 assists IP Aggregator 20 toidentify new markets for existing intellectual property rights held byIP Aggregator 20. In the example, intellectual property rights held byIP Aggregator 20 may be in use in a market “A,” but could have uses in adifferent market “B.” Technical Expertise 70 receives information ordata on the intellectual property rights held by IP Aggregator 20 alongflow path j, develops information or data which would allow theapplication of the intellectual property rights in market “B,” andprovides the information or data to IP Aggregator 20 along flow path j′.IP Aggregator 20 then transfers the intellectual property rights toOther Licensee/Buyer 40 via flow path Other Transfer Out “e.” IPAggregator 20 receives payment for the transferred intellectual propertyrights via Other In-Payment “f.”

Referring to FIG. 5, embodiments of the present inventions are directedto a service exchange 200 whereby a plurality of service providers 210subscribe to the service exchange 200 by enrolling 220 in the serviceexchange 200. In a further embodiment, the enrolling step 220 mayinclude the payment of a subscription fee to the service exchange 200 byone or more of the plurality of service providers 210. An IP Owner 10may purchase one or more service providers' 210 services 230 by paying aservice fee 240 to the service exchange 200. In a further embodiment,the plurality of service providers 210 services 230 may include:marketing advice; investment advice; technical advice, such asengineering or scientific advice; research/development support;commercialization advice; manufacturing advice; and accounting advice.Service providers 210 receive a payment 250 from the service exchange200 for the services 230 provided. In one embodiment, in return for asubscription payment paid in the enrolling step 220, a service providermay receive payment 250 in the form of a dividend from the serviceexchange 200. Accordingly, an IP Owner 10 may by paying a service fee240 to the service exchange 200 obtain one or more services 230 from oneor more of the plurality of service providers 210.

The service exchange 200 may be operated independently of the Exchange 1of the present invention, in conjunction with the Exchange 1, or as anintegrated service of the Exchange 1. Thus, an IP Owner 10 that is inneed of any one or more of the services 230 may obtain those servicesvia the service exchange 200. The service exchange 200, if operated inconjunction with or as a service of the exchange 1, may then provide aprocess by which the AIPV is increased by virtue of the provision ofservices 230 to the IP Owner 10. For example, such services byincreasing the value of the IPV_(i) and, by inclusion of the factors σ,φ, and ω in the estimation of EIPV, also have the potential to increasethe value of the Exchange Intellectual Property Value. Thus theAggregated Intellectual Property Value itself may be increased by theprovision of the services described herein and other services which areknow or may be determined to enhance the value of an IP Owners' 10intellectual property.

With reference to FIGS. 1, 2 and 5, in one embodiment, IP Owner 10 isprovided access to services 230 for a service fee 240 that is belowmarket costs for such services. The Exchange 1 may recoup the costdifference between the service fee 240 and the market cost for suchservices by retaining a higher percentage of the income otherwisereceived from the licensing out the intellectual property rightsholder's intellectual property. Service providers 210 should benefitfrom the economies of scale realized through the aggregation of services230 because, for example, they may provide a “productized” service tothe IP Owners 10 through the service exchange 200. Such “productized”services may include, for example, services that are fixed in scope andcontent such that the amount of development work needed to provide aservice is minimized or reduced.

With reference to FIGS. 1, 2 and 5, in a further embodiment, serviceproviders 210 will enjoy the benefits of an already-established clientbase because of the IP Owners 10 participation in the Exchange 1 whichmay coordinate with or integrate the methods of the service exchange200. Thus, IP Owners 10 participating in the Exchange 1 may accessservices through the service exchange 200, which may increase the valueof the IPV_(i), EIPV_(i) and, ultimately, the APV. The service providers210 will have an efficient process available by which they may identifyclients who are the intellectual property rights holders participatingin the Exchange 1.

With reference to FIGS. 1, 2 and 5, in a still further embodiment,service providers 210 will enjoy the benefits of an already-establishedclient base because of the intellectual property rights holders'participation in the service exchange 200, which is a centralizedexchange. Thus, IP Owners 10 participating in the service exchange 200may access services which increases the value of the intellectualproperty rights holders' intellectual property. The service providers210 will have an efficient process available by which they may identifyclients who are the intellectual property rights holders participatingin the service exchange 200.

Thus, in one embodiment, there is provided a method for aggregating andproviding services to an IP Owner 10 from a centralized service exchange200, where the method comprises: subscribing a plurality of serviceproviders 210 to the service exchange 200; providing access to theservice exchange 200 to a plurality of IP Owners 10; at least one of theIP Owners 10 obtaining a service 230 from at least one of the pluralityof service providers 210; the at least one of the IP Owners 10 paying aservice fee or first payment 40 to the service exchange 200 for theservice 230; the service exchange 200 making a second payment 250 to theat least one of the plurality of service providers 210 providing theservice 230; and wherein at least two of the service providers 210provide dissimilar services 230.

With reference to FIGS. 1, 2 and 5, in yet a further embodiment, thereis provided a method for aggregating and providing services to an IPOwner 10 from a centralized service exchange 200 wherein the serviceexchange 200 is operated by an Exchange 1, the Exchange 1 aggregating aplurality of intellectual property rights from a plurality of IP Owners10 in an intellectual property aggregator 20 by transferring in aplurality of intellectual property rights to the intellectual propertyaggregator 20.

With reference to FIG. 5, in a still further embodiment, there isprovided a method for aggregating and providing services to an IP Owner10 from a centralized service exchange 200 wherein the service fee 240is subsidized by an intellectual property aggregator. The method foraggregating and providing services to an IP Owner 10 from the serviceexchange 200 may further include the payment of fees to the serviceexchange 200 by the plurality of service providers in order to subscribeto the service exchange 200. The method for aggregating and providingservices to an IP Owner 10 from the service exchange 200 may furtherinclude services 230 selected from the group consisting of: marketingservice; investment service; technical service; research support;development support; commercialization service; manufacturing service;and accounting service. The method for aggregating and providingservices to an IP Owner 10 from the service exchange 100 may alsoinclude setting the services fee 240 to a below market price.

With reference to FIGS. 1, 2 and 5, the operation of the serviceexchange 200 according to one embodiment of the present invention is acomputer-implemented method for operating an exchange based on rights inintellectual property comprising the steps of: aggregating a pluralityof intellectual property rights from a plurality of IP Owners 10 in anintellectual property aggregator 20 by a first transfer whereby theintellectual property aggregator 20 obtains the plurality ofintellectual property rights in exchange for a plurality of firstacquisition costs; electronically transferring to a first database anintellectual property value for each of the plurality of theintellectual property rights, the intellectual property value equal to avalue selected from the group consisting of the first acquisition costand a value obtained using an intellectual property valuation method;electronically transferring to a second database a plurality of paymentsmade to the intellectual property aggregator 20 by a plurality ofacquirers 30 of a portion of the plurality of intellectual propertyrights; electronically transferring to a third database a plurality ofinvestment prices paid by a plurality of investors 50 for each purchaseof an equity interest in the intellectual property aggregator 20; in amicroprocessor calculating an aggregated intellectual property valuebased on the intellectual property value in the first database for eachof the intellectual property rights purchased, the payment made in thesecond database for each intellectual property right transferred in thesecond transfer and the investment price paid in the third database foreach payment made to the intellectual property aggregator; processing inthe microprocessor for each intellectual property right a plurality ofweighting factors; and processing in the microprocessor an exchangeintellectual property value for each of the plurality of intellectualproperty rights, the exchange intellectual property value beingestimated by apportioning the aggregated intellectual property valueamong each of the plurality of intellectual property rights using theweighting factors for each intellectual property right. In thisembodiment, the provision of services 230 may be further incorporated asdescribed above.

It will be appreciated by persons skilled in the art that the presentinvention is not limited by what has been particularly shown anddescribed herein. Rather, the scope of the present invention is definedonly by the claims which follow.

1. A method for creating a publicly traded security in an intellectualproperty aggregator that operates an intellectual property exchange, themethod comprising: transferring-in a plurality of intellectual propertyrights from a plurality of intellectual property rights holders to theintellectual property aggregator; providing a service to at least one ofthe plurality of intellectual property rights holders, wherein theproviding of the service adds value to at least one of the plurality oftransferred intellectual property rights; calculating an aggregatedintellectual property value for the plurality of transferredintellectual property rights; estimating an exchange intellectualproperty value for each of the plurality of intellectual propertyrights, the exchange intellectual property value being estimated byapportioning the aggregated intellectual property value among each ofthe plurality of intellectual property rights; transferring-out aportion of the plurality of intellectual property rights to one or moreacquirers of intellectual property rights; receiving from each acquirerof intellectual property rights a payment, the payment equal to theexchange intellectual property value for each of the intellectualproperty rights transferred out to each acquirer; calculating an updatedaggregated intellectual property value to account for each paymentreceived; and issuing a plurality of security interests, each securityinterest being purchasable for a price, the price being representativeof the updated aggregated intellectual property value.
 2. A method forcreating a publicly traded security in an intellectual propertyaggregator that operates an intellectual property exchange according toclaim 1 wherein the transfer-in of at least one of the pluralityintellectual property rights is by sale of the intellectual propertyright from the intellectual property right holder to the intellectualproperty aggregator.
 3. A method for creating a publicly traded securityin an intellectual property aggregator that operates an intellectualproperty exchange according to claim 1 wherein the transfer-in of atleast one of the plurality intellectual property rights is by a licensefrom the intellectual property right holder to the intellectual propertyaggregator.
 4. A method for creating a publicly traded security in anintellectual property aggregator that operates an intellectual propertyexchange according to claim 1 wherein the services provided are selectedfrom the group consisting of: marketing advice; investment advice;technical advice; research support; development support;commercialization advice; manufacturing advice; and accounting advice.5. A method for operating an exchange based on rights in intellectualproperty implemented by a computer based system, comprising the stepsof: aggregating a plurality of intellectual property rights from aplurality of intellectual property rights holders in an intellectualproperty aggregator by transferring in a first transfer the intellectualproperty rights to the intellectual property aggregator; providing aservice to at least one of the plurality of intellectual property rightsholders, wherein the providing of the service adds value to at least oneof the plurality of transferred intellectual property rights; storing ina first database a first set of information describing each of theplurality of intellectual property rights holders; storing in a seconddatabase a second set of information describing each of the plurality ofintellectual property rights, the second set of information comprising aintellectual property value for each of the plurality of intellectualproperty rights including value added by the providing of services;storing on a third database a third set information describing aplurality of acquirers of a portion of the plurality intellectualproperty rights, the third set of information comprising paymentinformation for each acquirer for each payment made to the intellectualproperty aggregator for a second transfer of the intellectual propertyrights to the acquirer; storing on a fourth database a fourth set ofinformation describing a plurality of investors, each investor being apurchaser of a equity interest in the intellectual property aggregator,the fourth set of information comprising investor information for eachinvestor for investments made to the intellectual property aggregator;inputting into a valuation module information selected from the groupconsisting of: the first set of information, the second set ofinformation, the third set of information and the fourth set ofinformation; calculating a value of the aggregated intellectual propertyrights in the valuation module to account for the information;determining an exchange intellectual property value for each of theplurality of intellectual property rights, the exchange intellectualproperty value being estimated by apportioning the aggregatedintellectual property value among each of the plurality of intellectualproperty rights; and calculating an updated aggregated intellectualproperty value to account for each payment received; entering a paymentvalue in the third database for each payment received for the transferof an intellectual property right; wherein the payment received for aintellectual property right equals the exchange intellectual propertyvalue for the intellectual property right.
 6. A method for operating anexchange based on rights in intellectual property implemented by acomputer based system according to claim 5 wherein the transfer-in of atleast one of the plurality intellectual property rights is by sale ofthe intellectual property right from the intellectual property rightholder to the intellectual property aggregator.
 7. A method foroperating an exchange based on rights in intellectual propertyimplemented by a computer based system according to claim 5 wherein thetransfer-in of at least one of the plurality intellectual propertyrights is by a license from the intellectual property right holder tothe intellectual property aggregator.
 8. A method for operating anexchange based on rights in intellectual property implemented by acomputer based system according to claim 5 wherein the services providedare selected from the group consisting of: marketing advice; investmentadvice; technical advice; research support; development support;commercialization advice; manufacturing advice; and accounting advice.9. A method for aggregating and providing services to an intellectualproperty rights holder from a centralized exchange, the methodcomprising: subscribing a plurality of service providers to a serviceexchange; providing access to the service exchange to a plurality ofintellectual property rights holders; at least one of the intellectualproperty rights holder obtaining a service from at least one of theplurality of service providers; the at least one of the intellectualproperty rights holders making a first payment to the service exchangefor the service; the service exchange making a second payment to the atleast one of the plurality of service providers providing the service;wherein at least two of the service providers provide dissimilarservices.
 10. A method for aggregating and providing services to anintellectual property rights holder from a centralized exchangeaccording to claim 9, wherein the service exchange is operated by anintellectual property exchange, the intellectual property exchangeaggregating a plurality of intellectual property rights from a pluralityof intellectual property rights holders in an intellectual propertyaggregator by transferring in a plurality of intellectual propertyrights to the intellectual property aggregator.
 11. A method foraggregating and providing services to an intellectual property rightsholder from a centralized exchange according to claim 10, wherein thefirst payment is subsidized by the intellectual property aggregator. 12.A method for aggregating and providing services to an intellectualproperty rights holder from a centralized exchange according to claim 9,wherein each of the plurality of service providers pays a fee to theservice exchange to subscribe to the service exchange.
 13. A method foraggregating and providing services to an intellectual property rightsholder from a centralized exchange according to claim 9, wherein theservices provided are selected from the group consisting of: marketingadvice; investment advice; technical advice; research support;development support; commercialization advice; manufacturing advice; andaccounting advice.
 14. A method for aggregating and providing servicesto an intellectual property rights holder from a centralized exchangeaccording to claim 9, wherein the second payment is below market price.15. A computer-implemented method for operating an exchange based onrights in intellectual property comprising the steps of: aggregating aplurality of intellectual property rights from a plurality ofintellectual property rights holders in an intellectual propertyaggregator by a first transfer whereby the intellectual propertyaggregator obtains the plurality of intellectual property rights inexchange for a plurality of first acquisition costs; providing a serviceto at least one of the plurality of intellectual property rightsholders, wherein the providing of the service adds value to at least oneof the plurality of transferred intellectual property rights;electronically transferring to a first database an intellectual propertyvalue for each of the plurality of the intellectual property rights, theintellectual proper value equal to a value selected from the groupconsisting of the first acquisition cost and a value obtained using anintellectual property valuation method; electronically transferring to asecond database a plurality of payments made to the intellectualproperty aggregator by a plurality of acquirers of a portion of theplurality of intellectual property rights; electronically transferringto a third database a plurality of investment prices paid by a pluralityof investors for each purchase of an equity interest in the intellectualproperty aggregator; in a microprocessor calculating an aggregatedintellectual property value based on the intellectual property value inthe first database for each of the intellectual property rightspurchased, the payment made in the second database for each intellectualproperty right transferred in the second transfer and the investmentprice paid in the third database for each payment made to theintellectual property aggregator; processing in the microprocessor foreach intellectual property right a plurality of weighting factorsselected from the group consisting of a numerical value corresponding toa scope of exclusivity assignable to each intellectual property right, anumerical value corresponding to a period of exclusivity assignable toeach intellectual property right, a numerical value corresponding to theextent trade secrets make up each intellectual property right, anumerical value corresponding to the relative number of commercialopportunities associated with each intellectual property right, and anumerical value corresponding to the value added by the providing of theservices; and processing in the microprocessor an exchange intellectualproperty value for each of the plurality of intellectual propertyrights, the exchange intellectual property value being estimated byapportioning the aggregated intellectual property value among each ofthe plurality of intellectual property rights using the weightingfactors for each intellectual property right.
 16. A method for operatingan exchange according to claim 15 wherein the first transfer of at leastone of the plurality of intellectual property rights is by sale of theintellectual property right from the intellectual property holder to theintellectual property aggregator.
 17. A method for operating an exchangeaccording to claim 15 wherein the first transfer of at least one of theplurality of intellectual property rights is by a license of theintellectual property right from the intellectual property holder to theintellectual property aggregator.
 18. A method for operating an exchangeaccording to claim 15 wherein the second transfer of a intellectualproperty right to an acquirer is by sale of the intellectual propertyright.
 19. A method for operating an exchange according to claim 15wherein the second transfer of a intellectual property right to anacquirer is by a license of the intellectual property right.
 20. Amethod for operating an exchange according to claim 15 wherein at leastone of the plurality of intellectual property rights is a patent.
 21. Amethod for operating an exchange according to claim 15 wherein at leastone of the plurality of intellectual property rights is a trade secret.